Magna CCD Utah Income Charts

This section shows the Magna CCD Utah economy using the most recent economic analysis from the 2019 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Magna CCD shows it has a median earnings per worker of $36,699 which is the third most median earnings of all other places in the greater Magna CCD region. The place with the highest median earnings per worker in the area is Salt Lake City which depicts a median earnings of $42,689 (16.3% larger). Comparing median earnings per worker to the United States average of $47,712, Magna CCD is approximately three-fourths the size. Also, compared to the state of Utah, median earnings per worker of $46,810, Magna CCD is approximately three-fourths the size.

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a median household income of $62,756 which is the third most median income of all other places in the greater Magna CCD region. The place with the highest median household income in the area is West Valley City which depicts a median income of $63,200 ( about the same size). Comparing median household income to the United States average of $60,293, Magna CCD is only about 4.1% larger. Also, measured against the state of Utah, median household income of $68,374, Magna CCD is about 9.0% smaller.

The next section examines a variety of different income statistics for the Magna CCD metropolitan area. In Figure 3 we see that it has the percentage of earnings of $100,000 more less than most other places in the metropolitan area at 2.7% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has an average hours of 38.9 which is the most of all places in the local area. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has an average hourly earnings of $18.14 which is in the mid point range of other places in the greater region. The place with the highest average hourly earnings in the area is Salt Lake City which depicts an average hourly earnings of $21.43 (18.1% larger). Comparing average hourly earnings to the United States average of $23.71, Magna CCD is approximately three-fourths the size. Also, in comparison with the state of Utah, average hourly earnings of $24.26, Magna CCD is approximately three-fourths the size.

Figure 7 examines the number of self employed people in the Magna CCD metro area based on the number of people who reported any self employment income. Magna CCD depicts it has a percentage of people self employed of 8.1% which is less than most other places in the local area. The place with the highest percentage of people self employed in the area is Salt Lake City which depicts a percentage self employed of 11.9% (46.7% larger).

Turning our attention to Figure 8, the median household income by age group, it has the largest proportion of median income-under 25 years at $55,183 of the total and is ranked #1. Second, it has the largest proportion of median income-25 to 44 years at $69,254 of the total and is ranked #1. Third, it has less than most other places in the local area when ranked by median income-45 to 64 years at $62,750 of the total. Also, it has one of the largest proportions of median income-65 years and over at $46,092 of the total and is ranked #2. The only larger place being Taylorsville with $46,696.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a households with retirement income of 13.1% which is the third most households with retirement income of all other places in the greater Magna CCD region. The place with the highest households with retirement income in the area is Taylorsville which shows a households with retirement income of 16.1% (22.7% larger).

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and it has one of the largest proportions of overall family income at $67,484 of the total and is ranked #3. Only #2 Taylorsville ($71,865), and #1 Salt Lake City ($73,981) are larger. Second, it has one of the largest proportions of white family income at $72,186 of the total and is ranked #3. Only #2 Taylorsville ($73,966), and #1 Salt Lake City ($86,265) are larger. Third, it has the largest proportion of asian family income at $93,795 of the total and is ranked #1. Also, it has one of the largest proportions of hispanic family income at $52,159 of the total and is ranked #3. Only #2 Kearns CDP ($52,500), and #1 West Valley City ($52,830) are larger.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Magna CCD shows it has the hightest cost of 102.9 for the cost of miscellaneous items category.

Magna CCD Utah Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. It shows that from February 2006 to before the disasterous Coronavirus Pandemic the monthly unemployment rate went from 4.8% to 3.5% in February 2020. This represents a decrease in the monthly unemployment rate of 27.1%. Since that time, the monthly unemployment rate has gone to 6.9% This represents an increase in the monthly unemployment rate of 97.1%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. It depicts that from January 2010 to before the disasterous Covid-19 virus Pandemic the monthly labor force participation went from 66,076 to 72,371 in November 2019. This represents an increase in the monthly labor force participation of 9.5%. Since that time, the monthly labor force participation has gone to 72,371 This represents an increase in the monthly labor force participation of very little.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Magna CCD depicts it has an unemployment rate of 3.8% which is the second most unemployment rate of all the places in the greater Magna CCD region. The place with the highest unemployment rate in the area is Magna CDP which shows a rate of 4.0% (only about 5.3% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. Magna CCD depicts it has a participation rate of 73.4% which is the second most participation rates of all the places in the greater Magna CCD region.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Magna CCD has the largest proportion of employed at 69.6% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Magna CCD depicts full time employees approximately 4.2 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Magna CCD area. Magna CCD depicts it has a families with a single earner of 25.5% which is less than most other places in the greater region. The place with the highest families with a single earner in the area is West Valley City which shows a single earners rate of 29.6% (16.0% larger). The percentage of families with no one working is depicted in Figure 22. Magna CCD shows it has a families with no one working of 7.1% which is the smallest when sorted by families with no one working of all the other places in the local area. The place with the highest families with no one working in the area is Taylorsville which shows a families with no worker of 12.6% (77.4% larger).

Magna CCD Utah Poverty Charts

The next section details economy analysis about poverty for residents of the Magna CCD community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Magna CCD depicts it has a total people earning less than the poverty level of 2,762 which is the second smallest in terms of total people earning less than the poverty level of all the other places in the metro area. The place with the highest total people earning less than the poverty level in the area is Salt Lake City which shows a total people earning less than the poverty level of 34,100 ( very much bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Magna CCD shows it has a percent of people earning less than the poverty level of 9.2% which is the smallest in order of percent of people earning less than the poverty level of all the other places in the local area. The place with the highest percent of people earning less than the poverty level in the area is South Salt Lake which shows a percent of people in poverty of 21.8% (approximately 2.4 times bigger).

In Figure 25 people who are in poverty are broken out by age group. Magna CCD has the percentage of person in poverty 18 to 34 years less than most other places in the greater region at 21% of the total.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Magna CCD has the smallest proportion of white poverty rate at 7% of the total. Second, it has the largest proportion of hawaiian poverty rate at 29% of the total and is ranked #1. Third, it has the smallest proportion of hispanicp poverty rate at 15% of the total.

Figure 27 shows key poverty statistics for groups based on marriage status. Magna CCD has the smallest proportion of married with children and in poverty at 4% of the total.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Magna CCD has the smallest proportion of less than highschool in poverty at 14% of the total. Second, it has the smallest proportion of has some college and in poverty at 5% of the total. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Magna CCD has the smallest proportion of people who are in poverty and employed at 20.1% of the total. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Magna CCD depicts it has a households with public assistance of 9.6% which is less than most other places in the local area. The place with the highest households with public assistance in the area is South Salt Lake which indicates a households with public assistance of 17.0% (77.6% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). Magna CCD depicts it has a the gini index of 32.8% which is the second smallest as measured by the gini index of all the other places in the metro area.

Magna CCD Utah Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Magna CCD community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Magna CCD has the smallest proportion of people who take public transportation to work at 1% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Magna CCD or elsewhere.) Magna CCD has one of the largest proportions of people who drove alone at 82% of the total and is ranked #2. The only larger place being Magna CDP with 82%. Second, it has the smallest proportion of people who take the bus at 1% of the total. Third, it has the smallest proportion of people who take the railroad at 0% of the total. Also, it has the smallest proportion of people who bike at 0% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Magna CCD has the largest proportion of people who leave for work between 530 am to 6am at 8% of the total and is ranked #1.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Magna CCD has the largest proportion of people with commute time between 35 to 39 minutes at 2% of the total and is ranked #1. Second, it has the largest proportion of people with commute time between 45 to 59 minutes at 6% of the total and is ranked #1. Third, it has the smallest proportion of people with commute time of 90 or more minutesutes at 0% of the total.

The average commute time is shown in Figure 37. Magna CCD depicts it has an average commute time of 23 which is the second most average commute time of all the places in the greater Magna CCD region. Figure 38 shows the difference between male versus female commuting time. Magna CCD depicts average commute time in minutes for men 29.4% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Magna CCD has the smallest proportion of 1 vehicle available at 11% of the total. Second, it has one of the largest proportions of 3 vehicles available at 31% of the total and is ranked #2. The only larger place being Magna CDP with 31%. Third, it has one of the largest proportions of 4 vehicles available at 13% of the total and is ranked #3. Only #2 Magna CDP (13%), and #1 Kearns CDP (14%) are larger. Also, it has one of the largest proportions of 5 or more vehicles available at 7% of the total and is ranked #3. Only #2 Kearns CDP (8%), and #1 West Valley City (8%) are larger. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) Magna CCD shows it has a people who both work and live in the same city of 12% which is in the mid point range of other places in the metro area. The place with the highest people who both work and live in the same city in the area is Salt Lake City which shows a people who both work and live in the same city of 64% ( quite a bit bigger). Comparing people who both work and live in the same city to the United States average of 42%, Magna CCD is approximately a third the size. Also, in comparison with the state of Utah, people who both work and live in the same city of 31%, Magna CCD is approximately a third the size.

Magna CCD Utah Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. Magna CCD depicts it has the hightest median earnings of $69,341 for the management, business, and financial occupations category. Similarly, Figure 47 shows the median earnings of women for the job categories and Magna CCD shows it has the hightest median earnings of $43,250 for the earnings-computer, engineering, and science occupations grouping. The table in Figure 48, shows Magna CCD employment data in terms of job categories and salary data.

Magna CCD Utah Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. Magna CCD shows it has the hightest entrepreneurs of 52% for the self employed management, business, science, and arts businesses grouping.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Magna CCD depicts it has the hightest entrepreneurs of 39% for the self employed in professional, scientific, management, administrative services grouping.

In Figure 51 the average annual self employment/entrepreneur income is shown. Magna CCD depicts it has an average annual self employment income of $26,604 which is the third most average annual self employment income of all other places in the greater Magna CCD region. The place with the highest average annual self employment income in the area is Salt Lake City which shows an average annual self employment income of $28,304 (6.4% larger). Comparing average annual self employment income to the United States average of $37,819, Magna CCD is approximately three-fourths the size. Also, in comparison with the state of Utah, average annual self employment income of $31,010, Magna CCD is about 16.6% smaller.

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Magna CCD depicts total number of self-employed men about 7.1% smaller as the total number of self-employed women.